The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.

The Outreach & Education function engages, empowers and educates the public in the Second District. Our outreach mission furthers the Bank’s commitment to the region by listening to the communities we serve and developing programs, analysis and sponsored conferences and clinics to help meet their needs. Our education mission aims to advance public knowledge about the Federal Reserve System and its role in the economy.

New York City Immigrants: The 1990s Wave

June 2005 Volume 11, Number 6

JEL classification: R10, R11

Authors: Rae Rosen, Susan Wieler, and Joseph Pereira

Fueled by a steady influx of immigrants, New York City's population turnover in the 1990s was almost double the average for the nation's 100 largest cities. A close look at the city's new foreign-born residents suggests that they are a very diverse group, showing marked differences in education level, English language fluency, and other characteristics that help determine labor market skills and performance.